Question
Renegade Sports have issued 5 year bonds to raise capital for expansion into new markets. The bonds pay coupons annually at an effective annual rate
Renegade Sports have issued 5 year bonds to raise capital for expansion into new markets. The bonds pay couponsannuallyat an effective annual rate of9% pa. The face amount of the bonds is $105,000 and they have an effective annual yield of5% pa. Calculate the duration (D) of the Renegade bonds. Give your answer in years to 2 decimal places.
D =years
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Investments Analysis and Management
Authors: Charles P. Jones
12th edition
978-1118475904, 1118475909, 1118363299, 978-1118363294
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